Payments to Former Participants. 6.4.1 Class Members who no longer have a Plan account (“Former Participants”) shall be paid directly by the Settlement Administrator by check. All such payments are intended by the Settlement Class to be "restorative payments" in accordance with Internal Revenue Service Revenue Ruling 2002-45.
Payments to Former Participants. The Settlement Administrator shall complete all payment calculations for all Former Participants within forty-five (45) calendar days after the Settlement Effective Date.
Payments to Former Participants. Each Former Participant (or the Beneficiaries or Alternate Payees of Former Participants) will have the opportunity to elect a tax-qualified rollover of his or her Entitlement Amount to an individual retirement account or other eligible employment plan, which he or she has identified on the Former Participant Rollover Form, provided that the Former Participant supplies adequate information to the Settlement Administrator to effect the rollover. Payments to each Former Participant shall depend on whether each is a Rollover- Electing Former Participant or a Non-Rollover-Electing Former Participant:
Payments to Former Participants. For Former Participants, the distribution will be made via a tax-qualified distribution process employing procedures described in 29 C.F.R. § 2550.404a-2, Safe Harbor for Automatic Rollover to Individual Retirement Plans, and in Section 7.20 of the Plan, Automatic Cash Out of Account, with the assistance of Retirement Clearinghouse or such other provider of automatic rollover IRAs selected by the Plan Administrator (“Rollover XXX Provider”). The Settlement Administrator shall cause an amount equal to the portion of the Net Settlement Fund allocated under the Plan of Allocation to the Former Participants, along with data and other supporting information identifying the settlement share amount owed to each Former Participant, to be transferred to the Rollover XXX Provider in accordance with the Rollover XXX Provider’s requirements for receiving same as safe-harbor automatic rollovers as described in 29 C.F.R § 2550.404a-2, to be administered in accordance with that regulation. The Rollover XXX Provider will then notify each individual Former Participant of the establishment of the automatic rollover XXX and the methods and means by which to access and manage such account. No Former Participant whose entitlement to payment pursuant to the Plan of Allocation would otherwise be less than twenty-five dollars ($25) shall receive any payment from the Net Settlement Fund.
Payments to Former Participants. Former Participants will be required to submit a Former Participant Rollover Form in order to receive a settlement payment via rollover. Each Former Participant who does not submit a Former Participant Rollover Form will receive his or her settlement payment via check as specified in Paragraph 6.6.3.
